BUSINESS Link West Midlands plans to axe 47 jobs as a result of funding cuts announced last month.

The business support service – which has contributed £484 million growth to the West Midlands economy in the last two years – delivered the devastating blow yesterday.

Currently Business Link WM employs 238 staff. The cuts will result in a number of business support initiatives being closed.

Lorraine Holmes, chief executive, said: “I very much regret having to make this announcement today. The cuts imposed on funding mean that we can no longer operate a number of business support initiatives and that in turn affects the staff working in those areas.”